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National Association of REALTORS® Code of Ethics

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Below, you will find the most recent updates to the Code of Ethics, but please take the time to review the entire REALTOR® Code of Ethics, or view each update individually by clicking the paragraph titles below.

Revised and added text is noted in italics. Strikeouts indicate deletions.

There were no 2017 changes to the Code of Ethics.
2016 Changes to the Code of Ethics


Revised Standard of Practice 12-5
REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. This Standard of Practice acknowledges that disclosing the name of the firm may not be practical in electronic displays of limited information (e.g. "thumbnails", text messages, "tweets", etc.). Such displays are exempt from the disclosure requirement established in the Standard of Practice, but only when linked manner either in the advertisement or in electronic advertising via a link to a display that includes with all required disclosures. (Adopted 11/86, Amended 1/11 Amended 1/16)
There were no 2015 changes to the Code of Ethics.
2014 Changes to the Code of Ethics


Revised Standard of Practice 3-2
To be effective, a Any change in compensation offered for cooperative services must be communicated to the other REALTOR® prior to the time that REALTOR® submits an offer to purchase/lease the property. After a REALTOR® has submitted an offer to purchase or lease property, the listing broker may not attempt to unilaterally modify the offered compensation with respect to that cooperative transaction. (Amended 1/10) (Amended 1/14)

Revised Article 10
REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11) (Amended 1/14)

REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11) (Amended 1/14)

Revised Standard of Practice 10-3
REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Adopted 1/94, Renumbered 1/05 and 1/06, Amended 1/11 Amended 1/14)

Revised Standard of Practice 11-1
When REALTORS® prepare opinions of real property value or price they must:
  1. be knowledgeable about the type of property being valued,
  2. have access to the information and resources necessary to formulate an accurate opinion, and
  3. be familiar with the area where the subject property is located
unless lack of any of these is disclosed to the party requesting the opinion in advance.


When an opinion of value or price is prepared, other than in pursuit of a listing or to assist a potential purchaser in formulating a purchase offer, such opinions the opinion shall include the following unless the party requesting the opinion requires a specific type of report or different data set:
  1. identification of the subject property
  2. date prepared
  3. defined value or price
  4. limiting conditions, including statements of purpose(s) and intended user(s)
  5. any present or contemplated interest, including the possibility of representing the seller/landlord or buyers/tenants
  6. basis for the opinion, including applicable market data
  7. if the opinion is not an appraisal, a statement to that effect (Amended 1/10)
  8. disclosure of whether and when a physical inspection of the property's exterior was conducted
  9. disclosure of whether and when a physical inspection of the property's interior was conducted
  10. disclosure of whether the REALTOR® has any conflicts of interest (Amended 1/14)
2013 Changes to the Code of Ethics


Revised Standard of Practice 12-10
REALTORS®' obligation to present a true picture in their advertising and representations to the public includes Internet content posted, and the URLs and domain names they use, and prohibits REALTORS® from:
  1. engaging in deceptive or unauthorized framing of real estate brokerage websites;
  2. manipulating (e.g., presenting content developed by others) listing and other content in any way that produces a deceptive or misleading result; or
  3. deceptively using metatags, keywords or other devices/methods to direct, drive, or divert Internet traffic; or , or to other mislead consumers
  4. presenting content developed by others without either attribution or without permission, or
  5. to otherwise mislead consumers. (Adopted 1/07, Amended 1/13)
2012 Changes to the Code of Ethics


New Standard of Practice 1-16
REALTORS® shall not use, or permit or enable others to use, listed or managed property on terms or conditions other than those authorized by the owner or seller. (Adopted 1/12)

Revised Article 15
REALTORS® shall not knowingly or recklessly make false or misleading statements about competitors other real estate professionals, their businesses, or their business practices. (Amended 1/12)

Revised Standard of Practice 15-2
The obligation to refrain from making false or misleading statements about competitors other real estate professionals, competitors' their businesses and competitors' their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. (Amended 1/12)

Revised Standard of Practice 15-3
The obligation to refrain from making false or misleading statements about competitors other real estate professionals, competitors' their businesses and competitors' their business practices includes the duty to publish a clarification about or to remove statements made by others on electronic media the REALTOR® controls once the REALTOR® knows the statement is false or misleading. (Amended 1/12)

Revised Article 17
In the event of contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 between REALTORS® (principals) associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall mediate the dispute if the Board requires its members to mediate. If the dispute is not resolved through mediation, or if mediation is not required, REALTORS® shall submit the dispute to arbitration in accordance with the regulations policies of their Board or Boards rather than litigate the matter.

In the event clients of REALTORS® wish to mediate or arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall mediate or arbitrate those disputes in accordance with the regulations policies of their the Board, provided the clients agree to be bound by the decision any resulting agreement or award.

The obligation to participate in mediation or arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to mediate or arbitrate and be bound by any resulting agreement or award. (Amended 1/12)

Revised Standard of Practice 17-2
Article 17 does not require REALTORS® to mediate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to mediate through the Board's facilities. The fact that all parties decline to participate in mediation does not relieve REALTORS® of the duty to arbitrate.

Article 17 does not require REALTORS® to arbitrate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to arbitrate before the Board. (Amended 1/12)
 



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